Bristol Myers builds on "smart factory" bet with new agreement

26 April 2024

Bristol Myers Squibb (NYSE: BMY) has agreed terms for a new CAR-T cell therapy supply agreement worth up to $380 million in upfront and milestone payments.

The New Jersey, USA-based cancer company will build on its work with Cellares, a contract development and manufacturing organization (CDMO), on the manufacture of the products.

The firms have been collaborating since August 2023, when Bristol Myers contributed to Cellares’ series C financing to launch a so-called smart factory for cell therapy manufacturing.

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